Binance opened an exchange office in Uganda

The largest crypto-exchange Binance announced the launch of a currency exchange service for cryptocurrencies and fiat pairs in Uganda. Also provided are pairs with local currency – Ugandan shilling.

The exchange office will be able to provide local residents with unlimited opportunities to work with crypto currency financial instruments. The subsidiary company will be called Binance Uganda. The popularity of crypto in Uganda was the result of unfavorable working conditions with local currency. Additionally, the low living standards of the population became an occasion for a quick assessment of the possibilities of working with digital money: a significant reduction in commissions, the possibility of budget transfers.

It is noteworthy that the formation of an exchange office is the final stage of the expansion of Binance in the country. Compared to 2016, when only 33% of the population used their registered bank accounts, today more than half of the country’s residents are involved in financial schemes with a cryptocurrency. Source: bitcryptonews.ru